topic Do you need to report management fees from a consolidated 1099? (2021 Tax Year) in Get your taxes done using TurboTax

Do you need to report management fees from a consolidated 1099? (2021 Tax Year)

Sorakairi89 — Mon, 09 Mar 2026 08:46:06 GMT

I received a consolidated 1099 for my account I have for buying and selling stocks.

Do I report the total management fee/advisor fee anywhere on my taxes or do leave that out?

Re: Do you need to report management fees from a consolidated 1099?

AamilD — Tue, 08 Mar 2022 21:44:12 GMT

No. According to IRS Publication 529, these are considered miscellaneous itemized deductions and you can no longer claim any miscellaneous itemized deductions and hence you can leave that out.

Re: Do you need to report management fees from a consolidated 1099?

Sorakairi89 — Tue, 08 Mar 2022 21:45:47 GMT

Thank you!

Re: Do you need to report management fees from a consolidated 1099?

Mike9241 — Wed, 09 Mar 2022 01:44:47 GMT

maybe they can be left out. some states do allow them as a deduction. but there they actually would produce any state tax benefit is unknown.